JPM: ABCD Completion with upside target to $121.60
Uppdaterad
Couple of harmonic completion in JPM:-
#1 The Feb to Mar butterfly formation which resulted in...
#2 An extended ABCD down move to 106.
#3 Price reversal with heavy volume on the 138.2% extension of the #2 ABCD which...
#4 Happens to be the 78.6% retracement level (higher low) from the 6 Feb low.
All these leads me to think JPM is about to make a move up to try a new high at $121.60, c.+9% upside. This is earnings season, all the volatility in global markets should = great trading results for JPM & fellow banks = pop in share price = Feds raise rates = +ve feedback loop on banks' share price. If you have not closed your shorts since my last post on the ESA, it's still not too late to do so.
#1 The Feb to Mar butterfly formation which resulted in...
#2 An extended ABCD down move to 106.
#3 Price reversal with heavy volume on the 138.2% extension of the #2 ABCD which...
#4 Happens to be the 78.6% retracement level (higher low) from the 6 Feb low.
All these leads me to think JPM is about to make a move up to try a new high at $121.60, c.+9% upside. This is earnings season, all the volatility in global markets should = great trading results for JPM & fellow banks = pop in share price = Feds raise rates = +ve feedback loop on banks' share price. If you have not closed your shorts since my last post on the ESA, it's still not too late to do so.
Trade stängt manuellt
Well we got the results we were looking for but all JPM did was fizzle fizzle. Time to admit I am wrong and close it out.
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